Luis Fuentes, a finance specialist and international business expert, serves as Corporate Affairs Director at Alligare International LLC and leads Estudio Fuentes. With over 10 years of experience, he excels in financial advisory, business internationalization, and strategic corporate solutions, helping companies in Latin America, Europe, and Asia expand globally.
Explore the major imports and exports of Peru, highlighting key sectors like mining, agriculture, and energy that drive its global success.
Table of Contents
A Quick Overview
Peru has consistently showcased its rich resources and strategic trade relationships, making it a vital player in international trade. With a dynamic combination of mineral wealth, agricultural exports, and growing industrial demand, the country’s trade highlights reveal fascinating insights into its economic landscape.
Having worked in trade analysis, I can confidently say Peru’s approach to balancing its natural advantages with external partnerships is truly remarkable.
| Sector | Key Product/Import | Trade Type | Value (USD) | Global Rank |
|---|---|---|---|---|
| Mining and Minerals | Copper | Export | $15.2 billion | 2nd largest producer |
| Mining and Minerals | Gold | Export | $8.1 billion | - |
| Mining and Minerals | Zinc | Export | $2.5 billion | 3rd largest producer |
| Agriculture | Blueberries & Grapes | Export | $6.2 billion | Top blueberry exporter |
| Agriculture | Mangoes & Asparagus | Export | $1.3 billion | - |
| Fisheries | Fishmeal | Export | $1.5 billion | - |
| Energy | Natural Gas | Export | $3.2 billion | - |
| Fuels | Refined Petroleum | Import | $10.1 billion | High dependency |
| Agriculture | Wheat & Maize | Import | $2.3 billion | Food security |
| Vehicles | Cars & Telecommunications | Import | $5.2 billion | Rising demand |
Which Sectors Drive Peru’s Exports?
Peru’s exports are defined by four key sectors: mining and minerals, agriculture, fisheries, and energy.
Let’s explore each:
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Mining and Minerals:
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Copper: As the world’s second-largest copper producer, Peru exported approximately $15.2 billion worth of copper in 2024. This represents nearly 60% of all mining exports, underscoring its pivotal role in global supply chains (USIL Repository – Minería y Exportaciones, 2024).
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Gold: The global demand for gold—especially in electronics and jewelry—helps Peru generate $8.1 billion in revenue (OECD Report – Mining Trends).
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Zinc: Peru’s zinc exports amounted to $2.5 billion, making it a leader in the global market (USIL Repository – Minería y Exportaciones, 2024).
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Agriculture:
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Blueberries and Grapes: These products are Peru’s agricultural superstars. In 2023, they collectively earned $6.2 billion, cementing Peru’s place as the world’s top blueberry exporter (USIL Repository – Agricultura y Exportaciones, 2024).
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Mangoes and Asparagus: These products contributed another $1.3 billion, showing the diversity of Peru’s agricultural strengths (UN Food and Agriculture Organization).
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Fisheries:
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Fishmeal: This export, primarily used as animal feed, brought in $1.5 billion in 2024. Its demand in Asia highlights Peru’s role in global food production (USIL Repository – Minería y Exportaciones, 2024).
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Energy:
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Natural Gas: Infrastructure improvements in the south have driven natural gas exports up by 14%, earning $3.2 billion (UPC Repository – Comercio Exterior y Energía, 2024).
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Why Does Peru Rely on Imports for Fuels and Energy?
Peru’s imports in fuels and energy focus primarily on refined petroleum, crude oil, and supplementary natural gas.
Let’s break it down:
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Refined Petroleum and Crude Oil:
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Peru’s imports in this category reached $10.1 billion in 2024. Diversifying energy sources could help reduce this reliance (World Bank Trade Data).
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Natural Gas:
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Despite its strong export numbers, Peru still imports fuels to meet domestic energy demands due to infrastructure and logistical limitations.
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What Machinery Does Peru Import for Its Industries?
Industrial growth in Peru depends on imports of heavy machinery, equipment, and technology tools. Here’s an overview:
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Heavy Machinery and Equipment:
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Imports reached $7.1 billion, vital for mining and construction—two of the country’s economic pillars (USIL Repository – Agricultura y Exportaciones, 2024).
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Technology and Tools:
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From cutting-edge manufacturing tools to industrial technologies, these imports help Peru remain competitive on a global scale.
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Which Agricultural Commodities Are Imported by Peru?
Peru’s agricultural imports primarily consist of cereals, with wheat and maize dominating the list:
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Cereals:
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Wheat and maize imports totaled $2.3 billion, primarily sourced from the United States and Canada. This supports Peru’s food security (UN Food and Agriculture Organization).
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What Drives the Demand for Vehicles and Electronics Imports?
Demand for vehicles and telecommunications equipment is fueled by Peru’s rising middle class and infrastructure development:
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Vehicles and Telecommunications Equipment:
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These imports were valued at $5.2 billion, showing an 8% growth compared to 2023. This reflects increased connectivity and mobility in Peru (OECD Report – Trade Trends).
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Who Are Peru’s Major Trade Partners?
Peru’s trade relationships are primarily defined by partnerships with China, the United States, and the European Union. Let’s delve deeper:
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Export Partners:
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China: As Peru’s largest trading partner, China accounted for 34% of exports, particularly in minerals (UPC Repository – Comercio Exterior y Energía, 2024).
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United States and European Union: Together, they contribute 23% of Peru’s export revenue.
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Import Partners:
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United States: Leading with 25% of imports, particularly in machinery and technology.
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China: Providing 18% of imports, including electronics and industrial goods (World Bank Trade Data).
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FAQs about "Major imports and exports of Peru"
Here are some answers to frequently asked questions on the topic:
What is Peru’s main source of income?
Peru’s economy heavily relies on its mining sector, especially copper, gold, and zinc exports. These minerals account for a significant portion of the country’s GDP, driven by high global demand.
What are Peru’s emerging export markets?
While China and the United States remain dominant trade partners, Peru is actively exploring markets in Asia and the Middle East, focusing on diversifying its export base with agricultural and fishery products.
How does Peru support its agricultural exports?
Peru invests in advanced irrigation systems and sustainable farming practices, allowing it to produce high-quality exports like blueberries, grapes, and mangoes, even in arid regions.
Why does Peru import so much refined petroleum?
Despite having natural gas reserves, Peru lacks sufficient refining capacity, making it dependent on importing refined petroleum to meet its energy needs.
Are there trade agreements benefiting Peru?
Yes, Peru is part of multiple free trade agreements (FTAs), including those with the United States, the European Union, and China, which have helped boost exports and attract foreign investment.
Conclusion
In conclusion, Peru’s trade landscape is as dynamic as its culture. Whether it’s leveraging its natural resources or expanding its industrial capabilities, the country’s adaptability and strategic partnerships continue to drive its success. I find it inspiring to see how Peru balances its local strengths with global opportunities—and I’m excited to watch this growth continue.
The way forward is clear: a balanced approach that prioritizes equity, efficiency, and innovation will pave the path for a more prosperous and resilient future.
You can contact me (Luis Fuentes) and Estudio Fuentes if you want to speak with an expert on this topic.
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